Accountancy fees: How much do you charge?
How much do we charge for accountancy fees is a question we are often asked!
See our video below where we discuss fees.
Many accountancy firms will commoditise their services into nice neat packages with a fixed price attached, but in practice by setting a fixed fee there will always be winners and losers.
Your business and tax requirements are unique to you.
Three important elements differentiate you from the next person:
How large is your business and how complex are your affairs? Are you running a £1m construction company or are you a £50,000 a year subcontractor?
How good are your books and records? Do you have an in house book-keeper who meticulously accounts for every penny, or do you hate bookkeeping and want to outsource this service to an accountant.
Do you need an accountant or a trusted advisor? The preparation of your accounts and tax returns is a legal requirement and this may be all you require. Alternatively, you may want a trusted advisor alongside you to help guide you through the highs and lows of your business venture and to assist with the key decisions to ultimately save you tax and time and to create real wealth.
You are an individual who has specific requirements, and consequently, you need a service unique to you. We also know that the service you require today will not necessarily be the service you require next year. Some things will be addressed now, and then be sorted. But we also know that you are on a journey and there will be new services you require as your situation changes. So if you are looking for an accountant to simply deal with the legals then we may not be a great fit for you.
We want to be your trusted advisor and as a result we build our accountancy fees around you. We have a proposal system that details many of the services we offer. See our video below which goes into more detail about how we arrive at our proposal and the fees.
To give you some idea of accountancy fees have a look at four separate case studies, which we hope will help you decide whether we are the right fit for you.
Case Study 1
Are you a startup company? For example a health and safety consultant setting up a company with expected turnover of £60,000 in the first year, one director with one other employee (their partner) who requires accounts preparation, corporation tax return completion, a monthly payroll, two personal tax returns completed, confirmation statement completed, remuneration planning, Xero software subscriptions and telephone support. The books are prepared in house on Xero and kept to a good standard.
Typical fee will be £177 + VAT per month (excludes costs of setting up the business usually between £350 + VAT to £500 + VAT).
Case Study 2
Basic Service- Company
A software company with turnover of £200,000, owned by a director with three employees who requires accounts preparation, corporation tax return completion, a monthly payroll, a personal tax return completed, confirmation statement completed, remuneration planning, Xero software subscriptions and telephone support. The books are prepared in house on Xero and kept to a good standard.
Typical fee will be £237 + VAT per month
Case Study 3
A building company with turnover of £1,200,000, owned by two directors with three employees and on average 10 subcontractors who requires accounts preparation, corporation tax return completion, a monthly payroll, monthly CIS returns completed, two personal tax returns completed, confirmation statement completed, remuneration planning, pre year end tax planning, monthly book-keeping , Xero software subscriptions, fee protection insurance and telephone support. The books are prepared by us on Xero with the company using the software for billing.
Typical fee will be £872 + VAT per month
Case Study 4
A couple with a substantial managed investment portfolio, three rental properties and pensions who require annual rental accounts and self assessment tax return preparation and two annual meetings to discuss tax planning opportunities.
Typical fee will be £125 + VAT per month
As you can see there is a vast range in our fees as we build a service specific to your needs. You will also notice that in order to avoid surprises we include as standard telephone support and certain advisory services, such as remuneration planning, to ensure that your tax affairs are always tax efficient.
Our fully comprehensive range of services includes anything from inheritance tax planning, goal setting, budgeting and forecasting, business valuations, assistance with buying and selling businesses, probate services and so much more. Please explore our website to find out more about the services we can provide. When you are ready, contact us either by telephone or by completing the form below to book your discovery meeting.